“This is just an extra reason for the development of Russia and we can spare money on it," Russian President Vladimir Putin said

MOSCOW, December 18. /TASS/. The 2018 FIFA World Cup in Russia is not just a costly event, but an extra impetus for the development of the country and, therefore, there will be enough financing for hosting the tournament, Russian President Vladimir Putin said on Thursday.

“This is just an extra reason for the development of Russia and we can spare money on it,” Putin said at his annual news conference speaking about Russia’s hosting the World Cup in 2018.

Russia won the bid to host the 2018 World Cup over three years ago in a tight race against the joint bid from England, Portugal and Spain and the joint bid on behalf of Belgium and the Netherlands.

Russia selected 11 host cities to be the venues for the matches of the 2018 World Cup and they are Moscow, St. Petersburg, Sochi, Kazan, Saransk, Kaliningrad, Volgograd, Rostov-on-Don, Nizhny Novgorod, Yekaterinburg and Samara.

The matches of the 2018 World Cup will be held at 12 stadiums located in the 11 mentioned above cities across Russia. Two of the stadiums are located in the Russian capital.